Applied Industrial Technologies (NYSE: AIT) has completed the acquisition of Hydradyne, LLC, based in Dallas, Texas, with locations across the southeastern U.S. The acquisition is expected to contribute approximately $260 million in sales and $30 million in EBITDA before anticipated synergies. This is anticipated to be accretive to EPS within the first 12 months of ownership prior to transaction-related expenses and the impact of purchase accounting adjustments.
The president and chief executive officer for Applied, Neil A. Schrimsher, has expressed excitement about the acquisition, noting that it will enhance the company's leading fluid power distribution position in the U.S. by leveraging complementary technical capabilities and innovative engineered solutions across legacy and emerging end markets. He also mentioned that the combined secular tailwinds and expanding customer service requirements in the industry are expected to drive notable growth and operational momentum following the acquisition.
Applied Industrial Technologies will provide additional financial and operational details, including EPS accretion guidance, when it reports fiscal 2025 second-quarter results later this month. The company is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, and automation technologies. Today the company's shares have moved 0.8% to a price of $241.38. For the full picture, make sure to review Applied Industrial Technologies's 8-K report.
